Is anyone else starting to become a bit excited?

Dohnjoe

paleoperson wrote: »

So in general terms bitcoin has been decreasing steadily since June 2019 from €7,000 to €6,500 and no signs of abating.

It's just gone up 7.5% in 24 hours. EUR 7,084 right now. This time last year it was EUR 3,600. Yeah, a lot of gambling involved, thin air, etc - but the gains in crypto can be insane when you catch them, which is the attraction

Grumpypants

paleoperson wrote: »

I told you all. You can't make money out of thin air. Any money you do get from it is just taking from someone else.

Any money you earn in any aspect of life is just taking money from someone else. That's literally how it works.

cnocbui

paleoperson wrote: »

So in general terms bitcoin has been decreasing steadily since June 2019 from €7,000 to €6,500 and no signs of abating.

I told you all. You can't make money out of thin air. Any money you do get from it is just taking from someone else.

Are you sure you should be in an investment forum, because you don't seem to understand the basics?

q85dw7osi4lebg

paleoperson wrote: »

So in general terms bitcoin has been decreasing steadily since June 2019 from €7,000 to €6,500 and no signs of abating.

I told you all. You can't make money out of thin air. Any money you do get from it is just taking from someone else.

Bitcoin has been increasing steadily for 10 years, find a Youtube tutorial on how to zoom out on your screen.

unkel

Addison Fancy Macrame wrote: »

Bitcoin has been increasing steadily for 10 years

I don't think "steadily" is an appropriate word here

q85dw7osi4lebg

unkel wrote: »

I don't think "steadily" is an appropriate word here

If you squint and stand 3 feet from your monitor it looks relatively stead to me.

Grumpypants

Another healthy tick today. €7122 now.

GodlikeRed

paleoperson wrote: »

I told you all. You can't make money out of thin air. Any money you do get from it is just taking from someone else.

The world, economy and life are not a zero sum game.

Also, money is quite literally printed out of thin air each day in the US & EU due to quantitative easing. So there is that......

Grumpypants

Grumpypants wrote: »

Another healthy tick today. €7122 now.

€7280 now. Great few days.

Arrival

Bittersweet that we didn't see <€5k again

Bob24

Dash and Monero have been on fire in the past couple of days (even compared to the rest of the bunch). They had been poor performers in the past few months and I thought people were slowly writing them off due to regulatory fears and delistings from exchanges, but I might have been wrong.

GodlikeRed

Bob24 wrote: »

Dash and Monero have been on fire in the past couple of days (even compared to the rest of the bunch). They had been poor performers in the past few months and I thought people were slowly writing them off due to regulatory fears and delistings from exchanges, but I might have been wrong.

Dash and Monero are practically illiquid. Much of the volume you see in coinmarketcap is faked. It easier when you stop trying to catch the bounces with those coins.

JJJJNR

Iran have launched an attack on a US base in Iraq.. major concern for the situation there.

Bitcoin just jumped 200 dollars.

Bob24

GodlikeRed wrote: »

Dash and Monero are practically illiquid. Much of the volume you see in coinmarketcap is faked. It easier when you stop trying to catch the bounces with those coins.

I am not much interested in owning these TBH, but any reason their volumes would be more fake than for other coins? (Monero volumes are half of Binance Coin which doesn't seem that low)

Dohnjoe

Amazing how quickly sentiment changes. I am very regimental and even I am getting buy urges.

Bob24

JJJJNR wrote: »

Iran have launched an attack on a US base in Iraq.. major concern for the situation there.

Bitcoin just jumped 200 dollars.

Whoo that came more quickly and more directly targetted than I would have thought :-/ Not good news for the world but yes if this keeps escalating, for us it will be an interesting test of wether Bitcoin is seen as a potential safe haven asset.

Bob24

Dohnjoe wrote: »

Amazing how quickly sentiment changes. I am very regimental and even I am getting buy urges.

If the assumption is that Bitcoin would follow the traditional gold pattern as a recipient for fear, it is usually not a good idea to buy shortly after this type of event as everyone panics and prices overshoot almost instantly before correcting a bit and consolidating.

But I am not sure I believe myself in what I am saying, as this could further escalate :-/

Frozen Veg

Could be looking at $10k BTC pretty soon.

Grumpypants

€7122 now.
€7280 now.
€7500 now.

New year new lease of life.

Frozen Veg

Chain link my big hope for this year.

GodlikeRed

Bob24 wrote: »

I am not much interested in owning these TBH, but any reason their volumes would be more fake than for other coins? (Monero volumes are half of Binance Coin which doesn't seem that low)

Its a 1/10th of binance coin fyi.
My personal tactic is to buy BTC and forget about it, its easier on the mind.
Yea I might miss a 50x coin but the likelihood one could pick that token is tiny - at least with BTC im not gonna miss the boat (if there is one at all).

Bob24

GodlikeRed wrote: »

Its a 1/10th of binance coin fyi.
My personal tactic is to buy BTC and forget about it, its easier on the mind.
Yea I might miss a 50x coin but the likelihood one could pick that token is tiny - at least with BTC im not gonna miss the boat (if there is one at all).

See current screenshot from coin marketcap below - not showing 1/10th, more 1/3rd.

GodlikeRed

Bob24 wrote: »

See current screenshot from coin marketcap below - not showing 1/10th, more 1/3rd.

Aye your right - sorry I was reading the BSV (weather) volume!

We will see what happens at the BTC halving. Should be interesting, I wont sell unless we see new insane ATHs.

worded

GodlikeRed wrote: »

Its a 1/10th of binance coin fyi.
My personal tactic is to buy BTC and forget about it, its easier on the mind.
Yea I might miss a 50x coin but the likelihood one could pick that token is tiny - at least with BTC im not gonna miss the boat (if there is one at all).

+1

I’m the same

I’m wondering if this is all going to crash

I’m rich because you are rich ?

GodlikeRed

worded wrote: »

+1

I’m the same

I’m wondering if this is all going to crash

I’m rich because you are rich ?

Its likely not going to crash (sub 1K lets say), https://medium.com/@vijayboyapati/the-bullish-case-for-bitcoin-6ecc8bdecc1 - its a new form of money. Blockchain is a revolutionary technology, which is optimally setup to work within the bitcoin (BTC) protocol.
The biggest threat is if it threatens nation states monetary control, they might act then.

cnocbui

GodlikeRed wrote: »

Its likely not going to crash (sub 1K lets say), https://medium.com/@vijayboyapati/the-bullish-case-for-bitcoin-6ecc8bdecc1 - its a new form of money. Blockchain is a revolutionary technology, which is optimally setup to work within the bitcoin (BTC) protocol.
The biggest threat is if it threatens nation states monetary control, they might act then.

Nation states taking action in the face of a currency threat - Oooo - my knees tremble at the very thought, what with examples of their past successes, like UK£ vs Soros, Zimbabwe vs $, Argentina, Venezuela, Zimbabwe, Wiemar Republic vs inflation, Switzerland CHF appreciation vs everything else a few years back, yeah, history is so replete with examples of nation states getting their way with their currency wishes, Bitcoin should watch out. /s

GodlikeRed

cnocbui wrote: »

Nation states taking action in the face of a currency threat - Oooo - my knees tremble at the very thought, what with examples of their past successes, like UK£ vs Soros, Zimbabwe vs $, Argentina, Venezuela, Zimbabwe, Wiemar Republic vs inflation, Switzerland CHF appreciation vs everything else a few years back, yeah, history is so replete with examples of nation states getting their way with their currency wishes, Bitcoin should watch out. /s

(Y)

Dohnjoe

cnocbui wrote: »

Nation states taking action in the face of a currency threat - Oooo - my knees tremble at the very thought, what with examples of their past successes, like UK£ vs Soros, Zimbabwe vs $, Argentina, Venezuela, Zimbabwe, Wiemar Republic vs inflation, Switzerland CHF appreciation vs everything else a few years back, yeah, history is so replete with examples of nation states getting their way with their currency wishes, Bitcoin should watch out. /s

If global regulators were so inclined they could decide to forbid banks or payment services from doing business with crypto exchanges that carried e.g. Monero. Which would decimate it's value overnight.

Luckily, so far, they seem to be letting most of this slide.

q85dw7osi4lebg

Portfolio all time high today.

The down times are a walk in the park these days. Emotionless

unkel

Addison Fancy Macrame wrote: »

Portfolio all time high today.

It should be if you are feeding it FIAT every month

Only teasing, may your portfolio go up forever more!

q85dw7osi4lebg

unkel wrote: »

It should be if you are feeding it FIAT every month

Only teasing, may your portfolio go up forever more!

Funny enough I always fed FIAT to my stock portfolio and it nearly ways went down!

Bitcoin is safer than most stocks bar the top few by mkt cap in S&P it seems.

Bob24

Addison Fancy Macrame wrote: »

Funny enough I always fed FIAT to my stock portfolio and it nearly ways went down!

Bitcoin is safer than most stocks bar the top few by mkt cap in S&P it seems.

To be fair, an ETF which is dumbly buying everything on the S&P 500 would have gone up drastically over the past couple of years (courtesy of the Fed kindly providing piles of cash to primary dealers, which feels great for some while it lasts but will not end well).

Lex Luthor

Addison Fancy Macrame wrote: »

Portfolio all time high today.

The down times are a walk in the park these days. Emotionless

stock market is at an ath at the moment....bubble about to burst, not sustainable

Bob24

Lex Luthor wrote: »

stock market is at an ath at the moment....bubble about to burst, not sustainable

It is unsustainable. But I don’t think anyone can predict when it will burst. Could be one month, one year, or 5 years. The Fed is clearly ready to do “whatever it takes” (even if it means potentially destroying the value of the dollar) to prevent markets from falling - this won’t go on forever but who know how much longer they can keep the music playing.

cnocbui

Lex Luthor wrote: »

stock market is at an ath at the moment....bubble about to burst, not sustainable

If you had written that 2 years ago, it would have been true; 1 year ago, it would have been true; 6 months ago, it would have been true - but the thing is, so long as interest rates are zero or negative, it isn't true.

dotsman

cnocbui wrote: »

If you had written that 2 years ago, it would have been true; 1 year ago, it would have been true; 6 months ago, it would have been true - but the thing is, so long as interest rates are zero or negative, it isn't true.

That's not entirely accurate!

There was a massive correction in the last quarter of 2018. So, "1 year ago" it was approx 20% lower than the previous summer.

cnocbui

dotsman wrote: »

That's not entirely accurate!

There was a massive correction in the last quarter of 2018. So, "1 year ago" it was approx 20% lower than the previous summer.

That wasn't massive, it was just a correction, not a crash. I am not aware of the scale of the correction in the Irish market, but in the US it was only 10%.

I have been thinking a major crash is surely imminent for years, and it hasn't happened. If things were normal I am sure there would have been a crash, but there is nowhere else for all the money to go. Bonds are dead, no yield there. Stick the money in a bank and watch it get eaten away.

Equities are the only game in town so the ridiculous valuations just keep pushing up due to scarcity and demand.

I would both love and hate an actual crash. I don't expect one while zero and negative interest rate insanity persists.

Bob24

dotsman wrote: »

There was a massive correction in the last quarter of 2018. So, "1 year ago" it was approx 20% lower than the previous summer.

Yes this happened when the Fed started to increase interest rates again to bring them to equilibrium value and to engage in quantitative tightening to normalise their balance sheet. And then once they saw the result they changed track (interest rates lowered again and now we even have unofficial QE via the repo market) and the markets started rising again.

Which demonstrates stock prices have little to do with the economy and very much to do with historically low interest rates and money printing.

Thing is - it is now pretty clear the Fed sees a market crash as unacceptable and will provide lower rates for as long as it takes and as much liquidity as it takes to prevent one for happening. I don’t think they can/will do it forever, but it is very hard to say how much longer it can last (could end soon, but could also be another decade).

]So while I agree a market crash should be imminent in a functioning system, since the game is basically rigged I would be cautious calling for one. Long term it is probably good for crypto and precious metals though, as it is damaging trust in fiat currencies (the ECB or the BOJ have similar policies).

Lex Luthor

print money, offer low interest rates to borrow money to buy stocks - increase the stock market
markets reach highs and stocks are sold off and then it all tumbles
Profits then used to buy crypto

dotsman

cnocbui wrote: »

That wasn't massive, it was just a correction, not a crash. I am not aware of the scale of the correction in the Irish market, but in the US it was only 10%.

I have been thinking a major crash is surely imminent for years, and it hasn't happened. If things were normal I am sure there would have been a crash, but there is nowhere else for all the money to go. Bonds are dead, no yield there. Stick the money in a bank and watch it get eaten away.

Equities are the only game in town so the ridiculous valuations just keep pushing up due to scarcity and demand.

I would both love and hate an actual crash. I don't expect one while zero and negative interest rate insanity persists.

As "corrections" go, it was pretty massive. Nasdaq dropped 22%. The 2008 crash (one of the biggest market crashes in history), saw a drop of 37% on the Nasdaq.

Anyway, not debating the ins and outs of stock markets. Was just correcting your statement that 1 year ago, the stock market was at an all time high.

cnocbui

dotsman wrote: »

As "corrections" go, it was pretty massive. Nasdaq dropped 22%. The 2008 crash (one of the biggest market crashes in history), saw a drop of 37% on the Nasdaq.

Anyway, not debating the ins and outs of stock markets. Was just correcting your statement that 1 year ago, the stock market was at an all time high.

I didn't say that.

dotsman

cnocbui wrote: »

dotsman wrote: »

Was just correcting your statement that 1 year ago, the stock market was at an all time high.

I didn't say that.

I'm afraid you did...

cnocbui wrote: »

Lex Luthor wrote: »

stock market is at an ath at the moment....bubble about to burst, not sustainable

If you had written that 2 years ago, it would have been true; 1 year ago, it would have been true; 6 months ago, it would have been true - but the thing is, so long as interest rates are zero or negative, it isn't true.

Don't mean to be pedantic

cnocbui

dotsman wrote: »

I'm afraid you did...



Don't mean to be pedantic

I wasn't referring to the ATH bit, but to the bubble about to burst bit. Given that I referred to three points in time, I would have thought that it might have been obvious I wasn't referring to a single ATH.

Dohnjoe

Here we go again

Frozen Veg

Green all around this morning.

Bob24

Bob24 wrote: »

Dash and Monero have been on fire in the past couple of days (even compared to the rest of the bunch). They had been poor performers in the past few months and I thought people were slowly writing them off due to regulatory fears and delistings from exchanges, but I might have been wrong.

Still on fire! Dash up 42% in the past 7 days (vs 10% for Bitcoin)

Basically the value doubled in the past 2 weeks.

Disclosure: I don’t have any :-)

q85dw7osi4lebg

Could get rejected here but we are above the top line of the 7 month falling wedge. Bullish but apprehensive.

Still long and accumulating as always.

JohnnyFlash

Addison Fancy Macrame wrote: »

Could get rejected here but we are above the top line of the 7 month falling wedge. Bullish but apprehensive.

Still long and accumulating as always.

Why 7 months? Why not 6 or 8. Crypto heads love seeing patterns where they don’t exist. It’s why we have lads going on about 30,40, 60, 90 day moving averages. Anything to suit the narrative. Tether sent a load of magic dollars to Binance late last night. That’s being used to pump the price. The few desperate fûckers still using margin to go short and long will be cleaned out once again.

Simples.

Grumpypants

JohnnyFlash wrote: »

Why 7 months? Why not 6 or 8. Crypto heads love seeing patterns where they don’t exist. It’s why we have lads going on about 30,40, 60, 90 day moving averages. Anything to suit the narrative. Tether sent a load of magic dollars to Binance late last night. That’s being used to pump the price. The few desperate fûckers still using margin to go short and long will be cleaned out once again.

Simples.

You are consistent, consistently wrong, but consistent none the less.

barneystinson

Grumpypants wrote: »

You are consistant, contistanly wrong, but consistant none the less.

You spelled consistent wrong, consistently wrong.